UAE, Central African Presidents witness signing of CEPA

March 06, 2025 / 10:05 PM

Sharjah 24 – WAM: President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Excellency Faustin-Archange Touadéra, President of the Central African Republic, witnessed the signing of a Comprehensive Economic Partnership Agreement (CEPA) between the two countries. The agreement aims to enhance bilateral trade and investment opportunities, particularly in key sectors.

Key signatories and remarks

The agreement was signed on behalf of the UAE by His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and on behalf of the Central African Republic by His Excellency Patrick Akoloza, Minister of Trade and Industry. Sheikh Mohamed bin Zayed highlighted that the CEPA marks a new phase in the UAE-Central African Republic relationship, driven by a shared vision for sustainable growth and development. President Touadéra expressed hope that the agreement would strengthen economic ties and promote prosperity.

Bilateral trade growth

Non-oil trade between the UAE and the Central African Republic reached approximately $252 million in 2024, reflecting a 75% increase compared to the previous year. The UAE exports consumer goods, machinery, and pharmaceuticals to the Central African Republic, while CAR exports agricultural products, gold, and diamonds to the UAE.

Expected benefits of CEPA

The CEPA is expected to increase market access for locally produced goods by reducing tariffs, removing non-tariff trade barriers, and boosting investment in key sectors like agriculture, infrastructure, and technology. This agreement supports the UAE’s goal of expanding its global trade network and strengthening strategic ties with African nations.

UAE’s long-term trade objectives

The CEPA is part of the UAE's broader goal to increase total non-oil trade to $1.1 trillion by 2031. In 2024, UAE trade volume reached a record $816 billion, marking a 14.6% increase from the previous year.

Additional agreements and cooperation

In addition to the CEPA, several agreements and memoranda of understanding were announced, covering areas such as investment protection, double taxation avoidance, infrastructure, mineral resources, and education.